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Big Lots confirms receipt of subpoena related to CEO stock trades

Big Lots (BIG) disclosed in a regulatory filing last night that on November 29 the company received a grand jury subpoena from the U.S. Attorney for the Southern District of New York requesting documents relating to trades in its common shares made by its CEO Steve Fishman. The company said, "We are fully cooperating with the U.S. Attorney in connection with the subpoena. We also understand that the SEC has initiated an inquiry into this matter, but we have not yet received a document request from the SEC." The Fly notes that The Wall Street Journal reported yesterday morning, citing sources, that the SEC launched an investigation into a $10M stock sale by Fishman.